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MarketBeat
Bridget Bennett

Fabrinet, Dycom and Qualcomm: 3 AI Fallen Angels Wall Street Just Marked Down

Qualcomm Fabrinet Marc Chaikin DY Dycom Nasdaq Oil

Two weeks in, September is already doing what September usually does. The S&P 500 drifted lower toward its 21-day moving average, the AI trade lost its footing, and several companies that had just posted double-digit earnings beats got sold anyway.

That last part is the odd one. Fabrinet (NYSE: FN) beat estimates by more than 10% and guided higher. Dycom Industries (NYSE: DY) did the same and raised its outlook. Both stocks went down.

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